Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $204.29 Consensus Price Target from Brokerages

Nexstar Media Group, Inc. (NASDAQ:NXST) has received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $204.29.

A number of analysts have weighed in on the stock. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th.

Nexstar Media Group Stock Up 1.1 %

NXST opened at $156.39 on Tuesday. Nexstar Media Group has a 52 week low of $147.25 and a 52 week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The business’s fifty day simple moving average is $161.87 and its 200 day simple moving average is $167.01. The stock has a market cap of $4.85 billion, a PE ratio of 9.05, a P/E/G ratio of 0.25 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. As a group, research analysts expect that Nexstar Media Group will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 875 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $172.00, for a total value of $150,500.00. Following the sale, the director now owns 5,752 shares in the company, valued at approximately $989,344. This represents a 13.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,448 shares of company stock worth $23,828,076 over the last quarter. Insiders own 6.30% of the company’s stock.

Institutional Trading of Nexstar Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. EMC Capital Management increased its holdings in shares of Nexstar Media Group by 10.1% in the 4th quarter. EMC Capital Management now owns 3,116 shares of the company’s stock valued at $492,000 after acquiring an additional 285 shares during the last quarter. Genesee Capital Advisors LLC lifted its stake in Nexstar Media Group by 14.1% in the 4th quarter. Genesee Capital Advisors LLC now owns 3,302 shares of the company’s stock worth $522,000 after acquiring an additional 408 shares in the last quarter. Pacer Advisors Inc. boosted its position in Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after acquiring an additional 1,202,453 shares during the period. KBC Group NV increased its holdings in shares of Nexstar Media Group by 1,801.8% in the 4th quarter. KBC Group NV now owns 17,230 shares of the company’s stock valued at $2,722,000 after purchasing an additional 16,324 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Nexstar Media Group by 18.8% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $214,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.